2024FY: Sterling Financial Holdings Company declares N43.68bn profit, shareholders get N0.18 kobo
Sterling Financial Holdings Company Plc on Thursday declared N43.68 billion profit after tax in 2024 financial year ended December 31, 2024, about 102.4 per cent growth from N21.58billion profit after tax reported in the full year ended December 31, 2023.
The lender on the Nigerian Exchange Limited (NGX) announced N45.86billion profit before tax in 2024FY, about 102.1 per cent growth from N22.69billion in 2023FY.
On impressive profit, the management of Sterling Financial Holdings Company is rewarding shareholders with a final Dividend of 18 kobo per ordinary share of 50 kobo each.
From the profit & loss figures, the bank posted N337.2 billion gross earnings in 2024, up by 52 per cent from N221.77billion reported in 2023FY.
The Group closed 2024 with a total assets of N3.5 trillion, representing an increase of nearly 40 per cent from N2.53 trillion declared in 2023FY.
The growth in total assets was driven by N2.52 trillion customers deposits from customers in 2024, a growth oof 37 per cent from N1.84 trillion in 2023, while loans from customers increased to N1.1 trillion in 2024, about 23 per cent growth from N895.8 billion reported in 2023.
After a long delay, the Bank released its unaudited first quarter ended March 31, 2025 with a profit before tax of N18.26billion, an increase oof 125.3 per cent growth from N8.11billion declared in first quarter ended March 31, 2023.
